New York Knicks, Rangers officially split into separate publicly traded companies

The New York Knicks and New York Rangers have officially split into separate publicly traded companies, allowing investors to trade shares in each team individually. Following the spinoff, the Knicks trade on the New York Stock Exchange under MSGK, while the Rangers trade under MSGR. James Dolan, who retains leadership of both franchises, received a $10 million cash bonus for executing the breakup.

The restructuring aims to address a valuation gap between private market estimates and previous combined stock prices. Both teams will continue playing at Madison Square Garden through June 2055 under long-term lease agreements, with the Dolan family maintaining majority voting control over both organizations through dual-class stock structures.